Wilmington, Delaware, United States, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive polycarbonate glazing market size is projected to reach US$ 1.6 Bn by the end of 2031. OEMs are continuously improving automotive designs, and the usage of polycarbonates (PC) in glazing applications is gaining traction. The need for innovation in styling, comfort, and aesthetics of vehicles is likely to offer considerable business opportunities for manufacturers operating in the automotive polycarbonate glazing market.
Regulations on reducing vehicular emissions are steadily evolving. Automotive OEMs are emphasizing on lightweighting in order to comply with the latest fuel economy norms. Consequently, plastic resins are being preferred over glass especially in tail lamps, turn indicators, roof pillars, and windows. Newer polymer compounding technologies have enabled OEMs to incorporate polycarbonates in a wide range of automotive glazing applications.
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Growth Opportunities in Automotive Polycarbonate Glazing Market
- Focus on Automotive Light-Weighting Among Automotive OEMs to Improve Fuel Economy e: Demand for lightweight materials underpins tremendous growth opportunities in the automotive sector. Rise in demand for polycarbonate in multiple glazing applications is driven by several benefits its use offers to vehicle manufacturers and automotive parts manufacturers. In addition to complying with highly stringent fuel economy norms, PC glazing offers remarkable design and styling freedom, such as that related to automotive part integration. Increase in production of fuel-efficient vehicles has propelled the PC glazing products in the market. Especially, PC glazing chemicals are gathering traction with makers of electric vehicles, which also presents business growth opportunities.
- Demand from Passenger Vehicle Manufacturers to Spur Market Growth: Passenger vehicles is a markedly lucrative segment of the automotive industry. Adoption of next-gen coating technologies by automakers will steer the revenue growth of producers of PC glazing chemicals. In particular, the use of polycarbonates in sun glazing materials is expected to grow steadily. The rise in adoption is attributed to their increasing usage in electric and hybrid vehicles in order to improve efficiency of HVAC units.
- Rising Demand for Eco-friendly PC Products Opens Up New Growth Opportunities: Rise in demand for eco-friendly resin products has prompted vendors in the market to increase the proportion of renewable materials in PC products. Their commercialization has been gaining pace for the last few years, and the trend has opened up new growth frontiers.
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Key Drivers
- Stringent implementation of fuel economy norm and regulations pertaining to emission of carbon dioxide from the transportation sector is a key driver of the demand for automotive polycarbonates in vast range of glazing applications. Rise in demand for fuel-efficient vehicles is also a key automotive polycarbonate glazing market trend.
- Increase in demand for automotive light-weighting solutions to optimize vehicle cabin space underpins enormous lucrative avenues in the global automotive polycarbonate glazing industry. Of note, in terms of passenger comfort and efficiency of HVAC units, the use of PC glazing applications is likely to stay lucrative during the forecast period.
Automotive Polycarbonate Glazing Market: Regional Growth Dynamics
- The Europe market has been growing significantly for the last few years. High consumer spending on luxury vehicles and rapid pace of advancements in coating technologies used for glazing have underpinned the growth prospects of the regional market.
- Asia Pacific is a potentially lucrative market for automotive polycarbonate glazing, and according to projections by TMR analysts, it is anticipated to advance at an attractive growth rate during the forecast period of 2022-2031. Automotive companies in the region are adopting PC glazing systems that enhance comfort and are cost-effective. Commercialization of new materials and coating methods are creating sizable revenue streams.
Competition Landscape
Some of the key market players are Nippon Sheet Glass, Flexigard, Dott. Gallina s.r.l, Webasto, Fuyao Group, Corning Incorporated, SABIC, Covestro AG, and TEIJIN LIMITED.
Companies operating in the market are keen on expanding their product line in order to gain market shares. Service companies are consolidating their position in the market by expanding the scope of services in order to attract customers.
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Automotive Polycarbonate Glazing Market Segmentation
- Technology
- Sun Control Glazing
- Hydrophobic Glazing
- Switchable Glazing
- Conventional
- Application
- Front Windshield
- Backlite
- Sidelite
- Quarter glass
- Panoramic roof/ Roof modules
- Sales Channel
- OEM
- Aftermarket
- Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Countries Covered
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- Japan
- China
- India
- ASEAN
- Brazil
- Mexico
- GCC
- South Africa
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